NAR Data Shows Now Is a Great Time to Sell!

We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.

Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report.

REALTORS® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that home-buying demand continued to outpace supply in May.

The map below illustrates buyer demand broken down by state (the darker your state, the stronger the demand is there).

In addition to revealing high demand, the index also mentioned that “compared to conditions in the same month last year, seller traffic conditions were ‘weak’ in 24 states, ‘stable’ in 25 states, and ‘strong’ in D.C and West Virginia.” 

Takeaway: Demand for housing continues to be strong throughout 2017, but supply is struggling to keep up, and this trend is likely to continue into 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales, but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 2.1% to 1.96 million homes available for sale
• That represents a 4.2-month supply at the current sales pace
• Unsold inventory is 8.4% lower than a year ago, marking the 24th consecutive month with year-over-year declines

According to Lawrence Yun, Chief Economist at NAR:

“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”

In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As we mentioned before, there is currently a 4.2- month supply, and houses are going under contract fast. The Confidence Index shows that 55% of properties were on the market for less than a month when sold.

In May, properties sold nationally were typically on the market for 27 days. As Yun notes, this will continue, unless more listings come to the market.

“With new and existing supply failing to catch up with demand, several markets this summer will continue to see homes going under contract at this remarkably fast pace of under a month.”

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market. And the supply will continue to ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house. Give me a call for more information – J.P. Cook – 602-320-4253.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

7253 E Nance Street Mesa, AZ 85207

$619,000

3 Beds

3 Baths

1,925 SqFt

Status Active

MLS # 6766033

Property Type Single Family Residence

Price Type --

Absolutely gorgeous home with a heated pool in the desirable Trailridge at Las Sendas gated community. This 3 bedroom, 3 bath home shows off the pride of ownership right when you walk in the door. The kitchen offers crown molding cabinets, granite counter tops and a large island. The master suite offers a huge walk in closet along with dual vanity sinks. The highlight of your low maintenance backyard is the beautiful pool in the back complete with a heater for year-round use! The gated community offers a large club house, workout facility, a spa, pickleball courts, community pools, parks and sporting fields along with bike and hiking trails to enjoy the desert landscape!

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10625 N 33rd Place Phoenix, AZ 85028

$619,000

3 Beds

2 Baths

1,640 SqFt

Status Active Under Contract

MLS # 6762386

Property Type Single Family Residence

Price Type --

BACK ON THE MARKET! Appraised over asking price - buyer's loss your GAIN. Discover this rare and beautifully maintained home in the sought-after 32nd St. and Shea area of Paradise Valley. Situated on a spacious cul-de-sac lot with no HOA, this property features an oversized two-car garage and a large, private backyard perfect for outdoor living. The expansive backyard offers a serene retreat with a large covered paver patio, lush green grass, mature trees, Malibu lighting, and a peaceful side yard complete with a water fountain and swing. This classic Suggs home, built with charming 70s appeal, boasts inviting curb appeal with front patio arches, a generous front yard, and a personal mailbox. As you enter through the double doors, you're welcomed by a spacious sunken living room to your left. The open-concept family room offers a cozy wood-burning, kiva fireplace, tile flooring, and large sliding glass doors that lead to the backyard. The dining area is adjacent to the updated kitchen, which includes a breakfast bar with pendant lighting, granite countertops, custom cabinetry, stainless steel appliances including built-in microwave and a new stove. The split floor plan provides a private master suite featuring large sliding doors to the backyard, wood shutters, a walk-in closet, and an ensuite bathroom with granite countertops, dual sinks, and a walk-in shower with floor-to-ceiling tile. Two additional guest bedrooms, one with a built-in custom-made, Murphy bed, are separated by a hallway bathroom with granite countertops and a tub/shower combo with tile surround. Recent updates include a new roof and exterior paint in 2021, 2013 windows and a brand-new LG front-loading washer and dryer. The home offers both air conditioning and evaporative cooling for energy savings and comfort throughout the year. The backyard swing and patio table are included, making this home move-in ready for you to enjoy right away.

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1311 N Abner -- Mesa, AZ 85205

$619,000

4 Beds

3 Baths

2,225 SqFt

Status Active Under Contract

MLS # 6747100

Property Type Single Family Residence

Price Type --

Located in the Alta Mesa golf course community, this home offers a flexible floor-plan and is move-in ready! You will be welcomed by soaring ceilings, freshly painted interior, new carpet, and stunning new fixtures thru-out. The great room is enhanced by granite tile counters, breakfast bar and plenty of storage. Guests will enjoy the privacy of the 1st floor bedroom and full bath. Relax in the spacious primary w/ dual sinks, separate tub/shower and walk-in closet. The resort-style backyard has no neighbors behind, sparkling pool, fire pit, and grass play area. Features also include 2 new AC units in 2023, laundry w/ cabinets and RV gate. Walking distance to Elementary and Jr. High, Shepherd Aquatic Complex, park and minutes to Boeing, the 202 FWY, and hiking, this home truly has it all!

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8972 E Arizona Park Place Scottsdale, AZ 85260

$619,000

2 Beds

2 Baths

1,446 SqFt

Status Active

MLS # 6766971

Property Type Single Family Residence

Price Type --

STUNNING SCOTTSDALE RETREAT! This fantastic 1446 SF haven boasts the perfect blend of comfort, style, and functionality! With 2 bedrooms plus a den, a spacious living room, and an open-concept kitchen, this home offers effortless flow and entertainment possibilities. Enjoy the private backyard oasis, perfect for relaxation and alfresco fun. And rest assured, this home has been meticulously maintained, with new flooring throughout, updated bathrooms, and a hassle-free experience - the cold AC is a refreshing treat, and everything is in working order, with no issues to worry about! And the best part? It's nestled in the most coveted area of Scottsdale, between Shea and 92nd Street, just moments from top-rated restaurants, supermarkets, and entertainment hotspots. Schedule your visit today

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15221 N Clubgate Drive Unit 1150 Scottsdale, AZ 85254

$619,000

2 Beds

2 Baths

1,401 SqFt

Status Active

MLS # 6754338

Property Type Apartment

Price Type --

*Seller Concessions Available* Short-term rentals allowed. Experience the warmth of this charming fully updated, first-floor, 2-bedroom unit in Kierland Greens. Inside, enjoy a welcoming vibe with wood-look tile floors, a soothing palette, and a bright living/dining area enhanced by a cozy gas fireplace. Hone your culinary skills in the sleek kitchen equipped with stainless steel appliances, recessed lighting, granite counters, mosaic tile backsplash, a pantry, and a breakfast bar. Retreat to the serene primary suite, boasting a walk-in closet and a private bath with dual sinks and a standalone tub. Relax under the covered patio, perfect for sipping your favorite beverage. This unit also features a 2-car garage. Within this gated community, enjoy the pool, spa, and fitness center.

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12221 E Chiricahua Place Gold Canyon, AZ 85118

Open House

New

$619,000

4 Beds

2.5 Baths

1,943 SqFt

Status Active

MLS # 6776779

Property Type Single Family Residence

Price Type --

Beautiful former model home (Shiloh floor plan) featuring 4 bedrooms, 8-foot interior doors, a gourmet kitchen with granite countertops, staggered cabinetry, and stainless steel appliances. This spacious home includes a 3-car front-entry garage, paver driveway, and fully landscaped yard. Enhanced with rain gutters, a water softener, upgraded PVC drip system, push-up window blinds, and an extra paver patio off the garage door—perfect for a smoker or BBQ area. Ideally located near the Superstition Mountains and Tonto National Forest, offering breathtaking views, and easy access to mountain biking, hiking, and walking trails. Enjoy serene desert beauty and a peaceful lifestyle just a short drive from Phoenix metro. Turnkey and barely lived in—just bring your toothbrush!

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4223 E Walnut Road Gilbert, AZ 85298

Open House

$619,000

3 Beds

2 Baths

2,045 SqFt

Status Active

MLS # 6776030

Property Type Single Family Residence

Price Type --

PRICED RIGHT (AND) NEWLY UPDATED...The Search Is Over! GUARD GATED TRILOGY AT POWER RANCH with a SOUTH-FACING BACKYARD for Winter Sun & Summer Shade! Enjoy outdoor moments in the backyard, complete with a Full-Length Covered Patio, Lush Low-Maintenance Landscape and Natural Turf. Spacious great room with high ceilings, soothing palette, and plantation shutters. Grand kitchen with quartz counters, sleek stainless-steel appliances, two-tier island with a breakfast bar for casual meals, plus an eat-in dining nook. A versatile double-door den or 3rd bedroom is ideal for an office or lounge. Sizeable main bedroom with sitting area, classy closet wardrobe room, spacious bathroom with granite counters, dual sinks, walk-in tub, and separate shower. Tile flooring and recessed lighting throughout!

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7662 E Orange Blossom Lane Scottsdale, AZ 85250

Open House

$619,000

2 Beds

2 Baths

1,575 SqFt

Status Active

MLS # 6763710

Property Type Townhouse

Price Type --

Stunning Home Located in the Highly Sought After Retirement (55+ Community), Awarded Historic District of Villa Monterey! Unbelievable Remodeled and Expanded Floor Plan w/ a 2 Car Covered Parking (Rare) w/an End Unit Location w/ Side Gate (Very Desirable). Property Consists of Kitchen Shaker Style Cabinets w/ 42' Uppers w/ Crown Moulding, Tile Backsplash, Oversized Island w/ Breakfast Bar, Quartz Countertops, Stainless Steel Appliances, Gas Range/Oven, Built-In Microwave, Huge Pantry, Work/Office Desk, Beautiful Primary Suite w/ a Large Walk-In Closet w/ Built-In Shelving, Tile Surround Walk-In Shower, Private Toilet Room, Vanity w/ Dual Sinks, Barn-Style Doors, Carpet & Wood Flooring, Wood Shutters, Custom Baseboards, Dual Pane Windows, Recessed Lighting, Ceiling Fans, Outdoor Storage, Inside Laundry Room, Refrigerator, Washer & Dryer Included, North/South Exposure, Low Maintenance Desert Landscape w/ Beautiful Backyard Synectic Grass, Relaxing Covered Patio, Situated Next to the Wonderful Pool & Spa, Fantastic Scottsdale Location, Convenient to Old Town Scottsdale, Spring Training Baseball, Scottsdale Fashion Mall, ASU, Freeway, Parks, Golf, Bike Paths, Restaurants, Talking Stick Casino & Much More!

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9556 W Frank Avenue Peoria, AZ 85382

Open House

$619,000

4 Beds

2.5 Baths

3,208 SqFt

Status Active

MLS # 6741287

Property Type Single Family Residence

Price Type --

Welcome to your dream home, where modern elegance meets spacious comfort!This beautifully refreshed residence boasts a freshly painted interior and exterior, creating a vibrant and inviting atmosphere.Step inside to discover expansive bedrooms,each offering ample space for relaxation and personalization.The master suite is a true sanctuary, featuring a cozy sitting area that invites you to unwind and enjoy peaceful moments.Entertain family/friends in style with not one, but two generous living spaces, perfect for gatherings.The heart of the home is the stunning kitchen,equipped with stainless steel appliances and luxurious granite countertops.Venture outside to your custom outdoor kitchen,complete with a bbq, and sink.AVERAGE PAST 3 MONTH UTILITY BILL INCLUDING SOLAR PAYMENT=$251.00!!

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16050 S 11th Place Phoenix, AZ 85048

Open House

$619,000

2 Beds

2.5 Baths

1,559 SqFt

Status Active

MLS # 6768886

Property Type Single Family Residence

Price Type --

Nestled in the sought-after Ahwatukee Foothills, this beautifully remodeled WATERFRONT home offers stunning lake and mountain views. The bright, open kitchen seamlessly connects to the living and dining spaces, leading to a tropical backyard and patio overlooking the water. Dual master suites come with private, updated bathrooms, including a spa-like step-in shower on the main floor. A versatile loft is perfect for a home office or gym. Located steps from the lakeside pool, spa, and walking paths. Updates include new windows, roof, AC, kitchen, baths, and more. Close to golf, hiking, and freeway access.

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651 W Orchard Way Gilbert, AZ 85233

Open House

$619,000

4 Beds

2.5 Baths

2,836 SqFt

Status Active

MLS # 6740366

Property Type Single Family Residence

Price Type --

This amazing home awaits you in the highly sought-after Neely Ranch community. Upstairs, newer carpet, four spacious bedrooms with an extra-large loft space. Updated primary bath with quartz double sinks and a tiled walk-in shower with privacy barn door. Lower level offers epoxy flooring and updated half bath, den is off the kitchen. Kitchen has updated quartz countertops, an island plus an extra-large walk-in pantry including laundry. Updated electrical, recessed LED lighting and dimmers throughout the entire smart -home. Step out back through double glass doors to a covered patio into your x- large lot overlooking your fenced saltwater pool. Interior needs some touch up paint; (Sellers willing to credit towards paint) Close to Gilbert Town Square shopping, dining and entertainment.

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5317 W Rainwater Drive Laveen, AZ 85339

$618,515

5 Beds

3.5 Baths

3,550 SqFt

Status Active

MLS # 6769244

Property Type Single Family Residence

Price Type --

MLS#6769244 January Completion! Discover The Turquoise at Tierra Montana Encore, a spacious two-story home that greets you with a charming front porch entry. Upon entering, you're welcomed by a light-filled foyer that leads to a versatile study. Entertain in the formal dining room, then flow seamlessly into the open kitchen, casual dining area, and gathering room. The private owner's suite offers a luxurious retreat with a spa-like bath and a large walk-in closet. Upstairs, you'll find four additional bedrooms, two full baths, and a generous loft, perfect for family living or recreation. Structural options include: tub at owners bath, garage service door, paver front porch, laundry room sink.

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